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    Insurance Surveyor Exam

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    404 vistas42 páginas

    Insurance Surveyor Exam

    Cargado por

    castkarthick
    Insurance Surveyor Exam

    Copyright:

    © All Rights Reserved
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    wer I1I—See, ‘THE GAZETTE OF INDIA : EXTRAORDINARY [Pas See: 4) INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY NOTIFICATION New Delhi, the 20th November, 2000 Insurance Surveyors and Loss Assetiors(Licencing, Profesional Requirements and Cade of Conduct) Regulations, 2000 Fe eee ReP/LU2000.— In exercise ofthe powers confered by sections 42D, S4UM and 114A of a mance Act, 1938 TF of 1938) ae section 26 ofthe surance Reguliony end Development Authority Makes re Al of 1996), the Authority in cnsulation with the Insurance Advan Committes, makes the following regulations, narely:- CHAPTER I PRELIMINARY 1. Short title, commencement and application (1) Tess regulations may be called the Insurance Surveyors and Loss Assessors (Licencing, Professional Requirements and Code of Conduct) Regulations, 2000, (2). [Rey shall come into force onthe date ofthe publication inthe Official Gazette and shall apply to all licensed insurance surveyors and loss assostors 2 Definitions In these regutations, unless the context otherwise requires, « (a) “Act” means the Insurance Act, 1938 (4 of 1938); ©) eepleit eans any person who apples forte gan of surveyr's and lg asesr's cence or renewal thereat; (0) “Authority” means the insurance Regulatory and Development Authority estblshed under sub- Toop, (2 oF settion 3 ofthe Insurance Repulstory and Development Authory Ant 19se (i of 1999); (d) “Designated Persor prams an officer of te Authority detailed by the Authority to dischante the functions assigned him under all or any of these regulations; (©) “Tespesting Authority” means the persoa(s) appointed by the Authority a inspect and investigate the affairs of aay surveyor and loss assessor, (©) MIRDA Act” means the insurance Regulstory and Development Authority Act, [999 (41 of 1999); (2) words and expressions used and not defined in these regulations but defined in the Insurance Act, tre eect 938) or Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) or ihe General Insurance Business (Nationatsation) Act, 1972 (57 of (913), of fy any rules o {eeulations made under those Act, shall have the reeanings respectively assigned to them in those Acts or rules or regulations, as the case may be. [om ars 4] Se AT TR: SET 35 | CHAPTER I LICENSING PROCEDURE tion for,and matters relati to, grant o (1) Every person whe is an individual and intending to act as a surveyor aad loss assessor in respect of general insurance business shall apply to the Authority for grant of licence in FORM-IRDA«! AF as given in the Schedule to these regulations, (@ The Authority shall, before duties, responsibil iting licence, take into consideration all matters relating 10 the es and functions of surveyor and loss assessor and satisfy jlself that the applicant i a fit and proper person to be granted a licence, In particular and without prejudice to the foregoing, the Authority shall satisfy itself that the applicant, in addition to submitting the application complete in all respects:= (a) satisfies all the applicable requirements of section 6AUUM read with section 42D of the Act and rule 554 of the [nsurance Rules, 1959; (b) possesses such additional technical qualifications as may be specified by the Authority from time to time: (©) has furnished evidence of payment of fees for gant of ficence, depending upon the (@) has undergone & pesiod of practical training, not exceeding 12 months, as contained in Chapter Vil of these regulations; ané (@) furnishes such additional information as may be required by the Authority from time to time. (2) The Authority on being satisfied thatthe applicent is eligible for grant of licence, shall grant the same in FORM-IRDA-2-LF as given in the Schedule to these regulations and send an intimation to the applicant together with an identity card mentioning the particular cless or category of general insurance business namely, fire, marine cargo, marine hull, engixeering, motor, miscellaneous and loss of profit for which the Authority has granted lisence and the licence shall remain valid for a peried of five years from the date of issue thereof, unless eencelled earlier, (4) A surveyor and loss assessor, whose licence has been cancelled or suspended for any reason, may 7 submit an apptication for isstance of licence, after the expiry of three years from the date of such cancellation oF suspension, and, such an application shall be treated as a fresh case, and, accordingly, the appiicant shall sctisty all the requirements of sub-regulation (2) (5) A surveyor and loss assessor shall be subject to categorisation as specified in Chapter V of these regulations, (6) A licence issued, before the commencement of these regulations, by the Controller of Insurance or hhis authorised representative shall be deemed to have been issued in accordance with these regulations, 4. Corporate Surveyors and Loss Assessors (2) Where the applicant is'@ company or firm, the Authority shall be satisfied that all the directors or partners, as the case may be, possess one or more of the qualifications specified in section 64UM(I)D() of the Act and none of such directors or pariners, as the case may be, suffers from any of the disqualifications mentioned in section 42 D of the Act read with Section 42(4) of the Act. (2) The applicant referred to in (1) shall apply in FORM-IRDA-3-AF as given in the Schedule to these regulations, 36 THE GAZETTE OF INDIA : EXTRAORDINARY [Pave Il—See. 4] 3) The Authority on being satisfied that the applicant is eligible for grant of licence, shall grant the same in FORM-IRDA-4-LF as given in the Schedule to these regulations, and, all the provisions cof regulation 3 above, stall apply mutatis mutandis to corporate surveyors. Fee Structure (On ard from May 1, 2001, the fee payable to the Authority by fresh applicants for grant of licence 1 actas surveyors and loss assessors, category wise, shall be as stated in the following table S.No. Category of surveyor Amount payable by individusls _ Amount payable by Corporate and loss assessor ‘Surveyor and Loss Assessor ~ RS. Re A ‘Ten thousand ‘Twenty five thousand 2. B Seven thousand five hurdred Twenty thousand 3 c Five thousand Fifteen thousand Application to conform to the requirements Any incomplete application not conforming wo the Fequitements of these regulations shall be rejected Provided that before rejecting any such application, the applicant shall be given a reasonable ‘opportunity to make good the application Renewal of licence (1) An insurance surveyor and loss assessor, desiring to renew the licence granted earlier, either under these regulations or prior tothe commencement of these regulations, shall apply lo the Authority atleast thiny days before the expiry of the peciod of validity thereof, in FORM-IRDA-S-AF (lor individuals’ FORM-IRDA-6-AF (for corporate surveyors) as given in the Schedule to these regulations, alongwith a renewal fee of two ftundred rupees Provided that the Authoricy may, if it is satisfied that undue hardship would be caused otherwise, accept any application, within six months of its expiry on payment by the applicant of a penalty of seven hundred and fifty rupees, - Provided further that a licence not so renewed can be revatidated only as a fresh ease, @) A licence so renewed shall be vatid for five years from the date of renewal, unless cancelled ‘arlier. The renewed tivence shall be in FORM-IRDA-7-LF or FORM-IRDA-S-LF, as the case may be (3) Every applicent, be it an individual or a company or a firm, while applying for renewal of the licence shall cenify to the Authority that he or any ofits directors or any ofits partners, as the case may be, has: {F) Pot contravened any of the provisions of the Act or the IRDA Act, or any rules or regulations made under those Acts or any order or direction issued by the Authority: (om ors 3] ST: TAT i) not made a statement which is false in material particulars with regard to his eligibility for the ence or renewal thereof or in any of the activities transacted by him or them or the matters connected therewith as a Surveyor and Loss Assessor; (Gii) neither had his licence cancelled or suspended under the Act, nor had violated the Code of Conduct prescribed under these regulations; (iy) discharged the duties and responsibilities as a professional; (v) not been negligent in the discharge of his obligations; (vi) not been sentenced to a term of imprisonment by any Court of law. Procedure where licence is not to be granted or renewed, or where licence is to be suspended or ceancelled (1) Where an applicant does nox satisfy the provisions of the Act and these regulations, the Authority may reject the application for grant of licence or renewal thereof and refund (0 the applicant no more than 60 per cent ofthe fee received: Provided that no application shall be rejected unléss the applicant has been given a reasonable ‘opportunity to make good the application within a time frame as may be deemed appropriate by the Authority, according to the facts and circumstances of each case. (2) ‘The refical shatl be communicated to the applicant within thirty days of sueh refusal, stating the grounds of rejection (3) Where itis found that a surveyor and foss assessor suffers from any of the disqualifications or has Knowingly contravened any provisions of the Act or the IRDA. Act, or the rules or regulations ‘made under those Acts or any order or direction or instruction issued by the Authority, the ‘Authority may, after giving such surveyor and loss assessor an opporunity of being heard, cancel his licence, with effect from such date as may be specified by it and the Authority shall notify such cancellation in the Official Gazewe. (4) The Authority may refuse to grant or renew licence, or suspend or cancel a licence _granted, to a surveyor and loss assessor, if he! it () hls to discharge the duties and responsibilities in a satisfactory and piofessional manner, i) violates the code of conduct prescribed under these regulations; or Gill) makes a statement which is false in material particulars with regard to the eligibility for obtaining licence or has. after the issue or renewal of such licence, acquired any of the disqualifications provided under sub-section (4) of section 42 of the Act, read with clause D of sub-section (1) of section G4UM of the Act. Provided that the Authority shall give a reasonable opportunily, to the person concemed, of being heard, before such refusal or suspension or cancellation The Authority shall notify only cancellations in the Official Gazette. Provided further that the powers conferred on the Authority in this sub-regulation are without prejudice to the powers ccnfetred on it by sub-section (7) of section 64M of the Act 8 ). Issue of Duplicate Licence/ta ‘THE GAZETTE OF INDIA : EXTRAORDINARY [Paer IN—See, $] (5) The refusal or suspension or cancellation of licence referred to in sub-reguletion (4) shall take effect from the date of such refusal, suspension or cancellation, as the case may be, and, no such surveyor and loss assessor shall carry out any survey and loss assessment werk thereafter, including the jobs on hand. All such pen« insured, as the case may be. Suspension of the licence (1) A ticensed surveyor and loss assessor whose licence is proposed to be suspended by the Authority ‘ay be granted an opportunity before suspending the licence. Provided, however, that the Authority may not follow this procedure if the continued employment of the licensed surveyor and loss assessor is considered to be detrimental to the cause of insurance underwriting (2) The period of suspension will be indicated in the order of the Auth y (3) On receipt of the order of suspension, the licensed surveyor and loss assessor may file an appeal With the Authority asking for revocation of suspension. The Authority may designate an officer who will hear the representation of the licensed surveyor and loss assessor and make such orders asare deemed fit. The order made in this regard shall be communicated to the suspended surveyor and loss assessor (4) If, on the basis of the order of the designated person, the Authority restores the licence of the surveyor and loss assessor. it will indicate the date From which the restoration will take place. (Sj During the period of suspension, the surveyor and loss assessor shall be prohibited from carrying out any surveys and all work that was hardied prior to suspension and has remained incomplete shall be returned f0 an insurer or the insured as the ease may be. (6) The licence granted by the Authority may be cancelled by the Authority where the surveyor and loss assessor does not represent within a period of 45 days from the date of order of suspension. (7) Any order of suspension or revocation of the order thereof shall be intimated to the insurers. tity Card (1) A person to whom a licence has been issued or renewed, shall, ifsuch licence and/or Identity Card isfare lost, destroyed or mutilated, make an application in FORM-IRDA-9 given in the Schedule t9 these regulations to the Authority requesting for issuance of duplicate theceof, along with a fee of five rupees. (2) The application referred to in sub-regulation (1) shall contain full particulars of licencedidentity card and as to how the loss/destruction or mutilation has occurred, and the application shall be accompanied by mutilated pieces, iFany. in possession of the person making the application, (3) The Authority, on being satisfied, may issue a duplicate licence and/or identity card in FORM- IRDA-IO-LF es giver in the Schedule to these regulations, (4) The duplicate so issued shall remain in force for the remainder of the period of validity of the licence and/or identity card, untess cancelled earlier, and the duplicate shall bear an endorsement thereon that it is a duplicate (sm ier wre TENA: STITH, 39 CHAPTER Ii CONSTITUTION AND FUNCTIONS OF SURVEYORS AND LOSS ASS! COMMITTEE, SORS. 11. Constitution (1) The Authority shall constitute a Committee to be called “Surveyors and Loss Assessors Committee” (herein after refered to ay “the Commitee"), for assisting the Authority on the matters and affairs relating (o Insurance Surveyors and Loss Assessors. (2) ‘The Committee may consist of the following persons:- (an Officer of the Authoritys Gi) Wo representatives of the Surveyors and Loss Assessor: ii) a representative of Insurers; (iv) a representative of the policy holders; (3) The Commitee will be for a period of three years land will be presided over by the officer of the Authority 12. Funetions of the Committee (1) The Committee shall perform the following funetions:~ (© recommending the syllabus for examination and practical training requirements for persons to qualify as surveyors and loss assessors, (ii) recommending to the Authority for its consideration to recognise foreign qualifications and training for the purposes of grant of licence to act as surveyors and loss assessors (iii) improving and developing the status and standard of the profession of surveyors and loss (iv) co-ordinating with educational or other institutions, having as their objects, wholly or partly, similar to those of the profession of surveyors and loss assessors, in such manner as may be conducive for the attainment of common objectives; () looking into the maners of professional misconduct, indiscipline, non-adherence to code of conduct by surveyors and loss assessors; and dealing with complaints of insured/insurer in respect of survey work done by surveyors and loss assessors; (vi) discharging any other function, which may be entrusted by the Authority, from time to time, @) The Committee may meet as frequently as necessary fo conduct its affairs, (3) The members of the Committee, other than the officer of Authority will be entitled to such allowances as may be determined by the Authority from time to time, ‘THE GAZETTE OF INDIA - EXTRAORDINARY [Poke M—See, 4] CHAPTER IV DUTIES AND RESPONSIBILITIES OF A SURVEYOR AND LOSS ASSESSOR 13(1) A surveyor and loss assessor shall, for a major part of the working. time, investigate, manage. quantify, validate and deal with losses (whether insured or not) arising, from any contingency, and report thereon, and carry out the work with competence, abjectivity and professional integrity by striily adhering tothe code of conduct expected of such surveyor and loss assessor, (2) The following, shall, inter alia, be the dutics and responsibilities of a surveyor and loss assessor:= (©) declaring whether he has any interest in the subject-matter in question or whether it perains 10 any of his relatives, business partners oF through material shareholding: Explanation: For the puipose of this clause ‘relatives’ shall mean any of the relatives as mentioned in Schedule 1 to the Companies Act, 1956; (i) maintaining confidentiality and nevirality without jeopardising the liability of the insurer ad claim of the insured (ii) conducting inspection and re-iespection of the property in question suffering a loss; (iv) examining, inquiring, investigating, verifying and checking upon the causes and the circumstances of the loss in question including extent of loss, nature of ownership and insurable interest; (%) conducting spot and final surveys, as and when necessary and comment upon franchise, ‘excess/under insurance and any ether related matter; (i) estimating, measuring and determining the quantum and description of the subject under loss; (oi) advising the insurer and the insured about 108s minimisation, loss control, security and safety measures, wherever appropriate to avoid further losses; (viii) commenting on the admissibility of the loss as also observance of warranty conditions under the policy contract; ix) surveying and assessing the loss on behalf of insurer or insured; (%) assessing lability under the contract of insurance; (xi) pointing out discrepancy, ifany, in the policy wordings; (xii) Satisfying queries of the insured/insurer and of persons connected thereto in respect of the clainnloss (sili) recommending applicability of depreciation and the percentage and quantum of depreciation; (xiv) giving reasons for repudiation of claim, in case the claim is not covered by policy terms and conditions; (3¥) aking expert opinion, wherever required; (X¥i) commenting on salvage and its disposal wherever necessary. SS aan (arn are 4) ST TON: HATA a (3) A surveyor of loss assessor shall submit his report to the insurer as expeditiously as possible, but ppointment. not later than 20 days of hi Provided that in exceptional cases, the afore-mentioned period can be extended with the consent of the insured and the insurer. CHAPTER V CATEGORISATION OF SURVEYORS 14{1) A surveyor and loss assessor shall be categorised, as mentioned in sub-regulation (3), based on the following criteria: (i) professional qualifications; (i) taining undergone: (ii) experience as a surveyor and loss assessor and any other relevant professional experience: (iv) any other erteria, as mey be specified by the Authority from time to time. (2) The categorisation shall be done and reviewed from time to time on the basis of @ point system evolved by the Authority in consultation with the Committee referred to in Chapter 11! of these regulations. (3) The categorisation shall consist of allocation of one or mote specified departments of insurance business, based on the factors mentioned above and shall include categorisation of the surveyors and Joss assessors into three catevories, viz., Category A, Category B and Category C. (4). Every Surveyor and loss assessor, whether a company or firm or an individual, shall be eligible to carry 1 the work as & surveyor or loss assessor, as per the eategorisstion specified in the licence. CHAPTER VI CODE OF CONDUCT 15. Every surveyor and loss assessor shall- (2) behave ethically and with integrity in the professional pursuits. Integrity implies not merely honesty but fair dealings and truthfulness: (2) strive for objectivity in professional and business judgment; (3) act impartially, when acting on instructions from an insurer in relation to a policy holder's claim under 4 policy issued by that insurer, (4) conduct himself with courtesy and consideration to all people with whom he comes into contact during the course of his work; (5) n0t accept or perform survey works in areas for which he does not hold a licence: (6), not accept or perform work which he is not competent to undertake, unless he obtains some advice and assistance, as will enable him to carry out the work compotently; (7) camry out his professional work with due diligent and professional standards expected of him; , care and skill and with proper regard to technical (8) Keep himselfupdated with all developments relevant to his professional practice; (9) at all times maintsin proper secord for work done by him and comply with all relevant laws: 224 Gu2NOO8 ‘THE GAZETTE OF INDIA: EXTRAORDINARY [Paver Sis, (iO)assist and encourage his colleagues te obtain professional qualifications, and, in this behalf, provide five ariicteship andior praciiea! vtining fora petiod of welve months; (1 maintain a revister of survey work, containing the relevant information, in FORM-IRDA-11 as given in) the Schedule to these regulations, and shall keep important records of the survey. reports Photographs and other important documents for 2 period three years and furnish the same and such other specified returns, as and winen called for by the Authority or by any investigating authority or the (12)diselose 10 all parties concemet his appointment, where the acceptance or continuance of such an engagement may materially prsjuclice, or could be seen to materially affect the interests of any interested party. As s90n as a conflict of interest is foreseen, every surveyor and loss assessor shall notify all interested parties immediately and seek instructions for his continuance: (13)not disctose any information, peitaining to a client or employer or policy holder acquired in the course ‘of his professional work. to any third party, except, where consent has been obiained from the interested party. or where there is « legal right or duty enjoined upon him to disclose: Gaynitner ue nor app to use, any confide information acquired or received by him inthe course of is phofetaiona wots, (his pssonal abvauge se the ultatage ots sa bats CHAPTER VII |ACTICAL TRAINING 16 (1) Ab applicant seeking a Ticence to act as.a surveyor and lose assessor shall underge a period of Pretical training of not less than twelve months with a surveyor and loss assessor as specitied below: (2) The surveyor under whom an applicant will be trained shall belong to category A or category Bas classified by the Authority shile granting a licence: (3) The trainee shall maintain a revord of taining received during the period and shalt get it cenified bby the surveyor and loss assessor under' wham he has trained and the certificate shall be attached {0 the application for seeking grant of a licence under regulation 3: (4) The licence jo be granted to an applicart to act as @ surveyor and loss assessor shall be in that particular area for which he has been trained: (3) If» surveyor and loss assessor already Hisensed by the Authority seeks 10 obiain a similar licence for acting a9 a surveyor in a category other than for which he is licensed, he shall undergo a period of taining not less than six months under a surveyor and loss assessor holcing either Category A oF Category B licence issued by the Authority to act in thar particular area 17. The Authority may also prescribe the passing by an applicant of an examination on the success‘ul completion of the training prescribed above for the grant of a licence under Regulation 3. The examination may be conducted either by the Authority itself or by an institution authorised by it in this behalf, (am sere 4) SS ee aT TST: ETAT 18, Register of Licensed Insuranes CHAPTER VI MISCELLANEOUS. rveyors and Loss Assessors (1) The Authority shall maintain a register of all Heensed insurance surveyors and loss assessors

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